Meta Plans to Invest $65 Billion to Expand AI Infrastructure
Meta CEO Mark Zuckerberg said the company plans to invest up to $65 billion this year to expand its AI infrastructure, as it looks to compete more aggressively with rivals like OpenAI and Google.
The company plans to create new jobs in AI and build a data center with more than 2 gigawatts of power that will cover an area the size of much of Manhattan.
Meta, a tech giant and one of the largest buyers of chipmaker Nvidia, aims to have more than 1.3 million graphics processing units (GPUs) by the end of the year and activate about 1 gigawatt of computing power by 2025.
Zuckerberg wrote in a post on Facebook:
“This year will be a turning point for AI. It’s a massive undertaking and will drive our core products and business for years to come.”
Meta’s billion-dollar investment announcement comes after US President Donald Trump announced that major technology companies would come together to invest $500 billion in artificial intelligence in the country. OpenAI, SoftBank and Oracle have created a joint project called “Startgate” to work on infrastructure across the US.
Zuckerberg also said that they expect Meta’s AI assistant, which is used across all of its services and had 600 million monthly active users last year, to serve more than 1 billion people this year.
Meta is estimated to have spent between $38 billion and $40 billion on AI last year. The company’s fourth-quarter 2024 results will be officially announced on January 29.
Meta’s share price rose 1% after the announcement.
